The median of the Fed's dot plot: the cumulative interest rate cut will be 100 basis points in 2024

Federal Reserve FOMC statement: The members voted 11-1 to pass the interest rate decision, and the last meeting was unanimous. The Fed cut interest rates by 50BP for the first time, and the three major U.S. stock indexes rose in the short term, with the Dow Jones Industrial Average up 0.79%, the S&P 500 up 0.86%, and the Nasdaq up 0.98%. The Fed's dot plot shows that among the 19 officials, 2 officials believe that interest rates should not be further cut in 2024 after this meeting, 7 officials believe that interest rates should be cut by another 25 basis points in 2024, 9 officials believe that interest rates should be cut by another 50 basis points in 2024, and 7 officials believe that interest rates should be cut by another 75 basis points in 2024. (Jinshi)